Headline: Bhutan shifts ~$11M in Bitcoin as Arkham flags another sovereign wallet transfer
Bhutan has moved roughly $11 million worth of Bitcoin from wallets tied to its sovereign holdings, blockchain intelligence firm Arkham Intelligence reported on X. The transfer — a withdrawal from the country’s main holding addresses — continues a string of periodic on-chain activity linked to Bhutan’s crypto treasury.
Arkham noted the new movement follows a similar transaction about a month ago, when Bhutan sold roughly $7 million in BTC through QCP Capital, a digital-asset trading firm commonly used by institutional players. The analytics firm has highlighted a consistent pattern: the kingdom tends to liquidate its Bitcoin in smaller clips, typically between $5 million and $10 million, rather than massive one-off sales. Arkham also flagged a notably heavy selling period in mid-to-late September 2025.
Despite these regular sales, Bhutan remains one of the world’s larger sovereign Bitcoin holders. Arkham-tracked wallets still show the country holding about 5,600 BTC — a stash worth hundreds of millions of dollars at current prices. The holdings largely stem from state-backed mining operations powered by the country’s plentiful hydroelectric energy, which have allowed the Himalayan kingdom to build a significant digital-asset reserve in recent years.
The continued, measured withdrawals suggest Bhutan is managing its Bitcoin treasury with an eye toward minimizing market impact while monetizing its mining revenues. Market-watchers will likely keep tracking on-chain flows from the same addresses to gauge future selling cadence and any broader implications for liquidity.
Read more AI-generated news on: undefined/news
